Abound Solar equipment headed for auction

Millions of dollars in equipment at four plants operated by bankrupt Abound Solar will be sold off in online auctions.

Great American Group Inc., based in Woodland Hills, Calif., will conduct the first of two auctions Sept. 18.Loveland-based Abound filed for Chapter 7 bankruptcy on July 2, citing competition from China’s highly-subsidized solar makers.

“We have a superb offering of module manufacturing and related facilities equipment along with test chambers, microscopes, machine shop equipment, plant equipment and many other items,´ said Paul Brown, a Great American official.

“This will be a multimillion-dollar offering. So far, we’ve received significant global interest from potential bidders from the solar industry, along with the semiconductor industry and related sectors.”

Brown also said there are a large number of completed solar panels, ready to ship on pallets, which may be available through private negotiation.

“The interest in the completed panels has been very high because it presents a unique opportunity for buyers to acquire them at a fraction of their new cost,” he said.

Other manufacturing equipment at Abound Solar’s main production facility in Longmont will be auctioned live on-site during a two-day webcast auction, Oct. 2-3.

Auction proceeds will be used to settle the company’s debts. The company valued its assets at $136.1 million and said its liabilities amounted to $82 million.

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